Amendment to R.A. No. 1566 Re: Acquisition of Properties in Foreign Countries for Diplomatic Use
Republic Act No. 4727, enacted on June 18, 1966, amends Section Seven of Republic Act No. 1566 regarding the acquisition of properties for Philippine diplomatic and consular establishments abroad. It authorizes the Government Service Insurance System and the Social Security System to extend loans up to ten million pesos for a maximum term of ten years, under terms set by their boards. The loan proceeds, alongside funds from the sale of foreign properties, will finance the purchase, construction, and furnishing of buildings for diplomatic use. Additionally, the Secretary of Foreign Affairs is required to report annual transactions related to these activities to Congress. The Act took effect upon its approval and was published in the Official Gazette on January 6, 1969.
Quick Answers
- What is Amendment to R.A. No. 1566 Re: Acquisition of Properties in Foreign Countries for Diplomatic Use about?
- Republic Act No. 4727, enacted on June 18, 1966, amends Section Seven of Republic Act No. 1566 regarding the acquisition of properties for Philippine diplomatic and consular establishments abroad. It authorizes the Government Service Insurance System and the Social Security System to extend loans up to ten million pesos for a maximum term of ten years, under terms set by their boards. The loan proceeds, alongside funds from the sale of foreign properties, will finance the purchase, construction, and furnishing of buildings for diplomatic use. Additionally, the Secretary of Foreign Affairs is required to report annual transactions related to these activities to Congress. The Act took effect upon its approval and was published in the Official Gazette on January 6, 1969.
- What type of law is Republic Act No. 4727?
- Amendment to R.A. No. 1566 Re: Acquisition of Properties in Foreign Countries for Diplomatic Use (Republic Act No. 4727) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was Amendment to R.A. No. 1566 Re: Acquisition of Properties in Foreign Countries for Diplomatic Use enacted?
- Amendment to R.A. No. 1566 Re: Acquisition of Properties in Foreign Countries for Diplomatic Use (Republic Act No. 4727) was enacted on Jun 18, 1966.
- What is the citation for Amendment to R.A. No. 1566 Re: Acquisition of Properties in Foreign Countries for Diplomatic Use?
- Amendment to R.A. No. 1566 Re: Acquisition of Properties in Foreign Countries for Diplomatic Use, Republic Act No. 4727, Jun 18, 1966 (Philippines)
Law Information
- Reference Number
- Republic Act No. 4727
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 18, 1966
REPUBLIC ACT NO. 4727
AN ACT AMENDING SECTION SEVEN OF REPUBLIC ACT NUMBERED ONE THOUSAND FIVE HUNDRED SIXTY-SIX, ENTITLED "AN ACT PROVIDING FOR THE ACQUISITION OF BUILDINGS AND GROUNDS IN FOREIGN COUNTRIES FOR THE USE OF DIPLOMATIC AND CONSULAR ESTABLISHMENTS AND OTHER AGENCIES OF THE PHILIPPINE GOVERNMENT AND FOR THE SALE OR LEASE IN THE GOVERNMENT INTEREST OF SUCH BUILDINGS AND GROUNDS AND LIKE PROPERTIES"
SECTION 1. Section seven of Republic Act Numbered One thousand five hundred sixty-six is hereby amended to read as follows:
"Sec. 7. The Government service insurance system and the social security system are hereby authorized to extend to the national government loans, not exceeding ten million pesos for a term of not exceeding ten years at such rates of interest and under such terms and conditions as the board of trustees of government service insurance system and of the social security system may require, which loan, together with the proceeds of the sale of properties of the department of foreign affairs abroad, are hereby made available to the department for the acquisition by purchase or otherwise or by construction of sites and buildings and for altering and furnishing such buildings for the use of the diplomatic and consular establishments and other agencies abroad of the Government of the Philippines in accordance with the provisions of section one of this act. Such sums, as may be necessary for the repayment of the loan, including the interest thereon, are hereby automatically appropriated annually out of the receipts from fees for certification of consular invoices. The Secretary of Foreign Affairs shall report annually all such transactions as well as any transaction made pursuant to Section five to the Congress with the budget estimates of the Department of Foreign Affairs.
SECTION 2. This Act shall take effect upon its approval.
Approved: June 18, 1966
Published in the Official Gazette, Vol. 65, No. 1, p. 10 on January 6, 1969
Cite This Law
Amendment to R.A. No. 1566 Re: Acquisition of Properties in Foreign Countries for Diplomatic Use, Republic Act No. 4727, Jun 18, 1966 (Philippines)
Amendment to R.A. No. 1566 Re: Acquisition of Properties in Foreign Countries for Diplomatic Use, Republic Act No. 4727 (Phil. 1966)
Related Laws
- Acquisition of Buildings and Grounds in Foreign Countries for Use of Diplomatic and Consular Establishments of the Philippine GovernmentRepublic Act No. 1566 • Jun 16, 1956 • Statutes
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- Tax Exemptions for Articles Brought or Imported from Foreign CountriesRepublic Act No. 830 • Aug 14, 1952 • Statutes
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- Amending R.A. No. 4860 As Amended (Re: Foreign Borrowing Act)Presidential Decree No. 81 • Dec 14, 1972 • Presidential Issuances
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